no loan without 20% down

[Aecetia]

If you know, is the 20% for owner occupied or for all purchases, such as second homes, etc? Thanks.

[DWCAP]

I hope Wells Fargo and the rest of the banks decide to do this. Not becuase itll mean that something like 50% of would be buyers can’t buy now, killing the market, but because it would be the start of actually healing this market. We would have 12-24 Horrible months, a boat load of forclosures, a recession, and revert to the fundamentals that make a solid market. If banks dont do this, we’ll have 60 horrible months, a boat load of forclosures, a revision to fundamentals, a recession and alot of wasted time (plus a bunch of Gov debt). Seems logical to me. But then again there is the whole solvency thing, so….

BTW, How much did the market fall in December? Any bank still lending at a 5% down payment in San Diego should be banned from borrowing from the FED. They are farting away money. ‘Poof’, and all that is left is the stench.

[DWCAP]

I hope Wells Fargo and the rest of the banks decide to do this. Not becuase itll mean that something like 50% of would be buyers can’t buy now, killing the market, but because it would be the start of actually healing this market. We would have 12-24 Horrible months, a boat load of forclosures, a recession, and revert to the fundamentals that make a solid market. If banks dont do this, we’ll have 60 horrible months, a boat load of forclosures, a revision to fundamentals, a recession and alot of wasted time (plus a bunch of Gov debt). Seems logical to me. But then again there is the whole solvency thing, so….

BTW, How much did the market fall in December? Any bank still lending at a 5% down payment in San Diego should be banned from borrowing from the FED. They are farting away money. ‘Poof’, and all that is left is the stench.

[DWCAP]

I hope Wells Fargo and the rest of the banks decide to do this. Not becuase itll mean that something like 50% of would be buyers can’t buy now, killing the market, but because it would be the start of actually healing this market. We would have 12-24 Horrible months, a boat load of forclosures, a recession, and revert to the fundamentals that make a solid market. If banks dont do this, we’ll have 60 horrible months, a boat load of forclosures, a revision to fundamentals, a recession and alot of wasted time (plus a bunch of Gov debt). Seems logical to me. But then again there is the whole solvency thing, so….

BTW, How much did the market fall in December? Any bank still lending at a 5% down payment in San Diego should be banned from borrowing from the FED. They are farting away money. ‘Poof’, and all that is left is the stench.

[DWCAP]

I hope Wells Fargo and the rest of the banks decide to do this. Not becuase itll mean that something like 50% of would be buyers can’t buy now, killing the market, but because it would be the start of actually healing this market. We would have 12-24 Horrible months, a boat load of forclosures, a recession, and revert to the fundamentals that make a solid market. If banks dont do this, we’ll have 60 horrible months, a boat load of forclosures, a revision to fundamentals, a recession and alot of wasted time (plus a bunch of Gov debt). Seems logical to me. But then again there is the whole solvency thing, so….

BTW, How much did the market fall in December? Any bank still lending at a 5% down payment in San Diego should be banned from borrowing from the FED. They are farting away money. ‘Poof’, and all that is left is the stench.

[DWCAP]

I hope Wells Fargo and the rest of the banks decide to do this. Not becuase itll mean that something like 50% of would be buyers can’t buy now, killing the market, but because it would be the start of actually healing this market. We would have 12-24 Horrible months, a boat load of forclosures, a recession, and revert to the fundamentals that make a solid market. If banks dont do this, we’ll have 60 horrible months, a boat load of forclosures, a revision to fundamentals, a recession and alot of wasted time (plus a bunch of Gov debt). Seems logical to me. But then again there is the whole solvency thing, so….

BTW, How much did the market fall in December? Any bank still lending at a 5% down payment in San Diego should be banned from borrowing from the FED. They are farting away money. ‘Poof’, and all that is left is the stench.

[Anonymous]

Loan policy has been so ridiculous and permissive during the bubble that a return to fiscally sound loan policy will no doubt be perceived by many as draconian, “you mean you actually have to put 20% down?, how unreasonable!” lol

[Anonymous]

Loan policy has been so ridiculous and permissive during the bubble that a return to fiscally sound loan policy will no doubt be perceived by many as draconian, “you mean you actually have to put 20% down?, how unreasonable!” lol

[Anonymous]

Loan policy has been so ridiculous and permissive during the bubble that a return to fiscally sound loan policy will no doubt be perceived by many as draconian, “you mean you actually have to put 20% down?, how unreasonable!” lol

[Anonymous]

Loan policy has been so ridiculous and permissive during the bubble that a return to fiscally sound loan policy will no doubt be perceived by many as draconian, “you mean you actually have to put 20% down?, how unreasonable!” lol

[Anonymous]

Loan policy has been so ridiculous and permissive during the bubble that a return to fiscally sound loan policy will no doubt be perceived by many as draconian, “you mean you actually have to put 20% down?, how unreasonable!” lol

[murf2222]

I’m having a case of brain constipation…….

The *pre-stimulus pkg* conforming limit of $417,000 means that you don’t need mortgage insurance for a loan under that amount right?

I’m forgetting the ramifications of a dwn payment of less than 20%…..wasn’t it related to the conforming limit? Or was it something else entirely?

[murf2222]

I’m having a case of brain constipation…….

The *pre-stimulus pkg* conforming limit of $417,000 means that you don’t need mortgage insurance for a loan under that amount right?

I’m forgetting the ramifications of a dwn payment of less than 20%…..wasn’t it related to the conforming limit? Or was it something else entirely?

[murf2222]

I’m having a case of brain constipation…….

The *pre-stimulus pkg* conforming limit of $417,000 means that you don’t need mortgage insurance for a loan under that amount right?

I’m forgetting the ramifications of a dwn payment of less than 20%…..wasn’t it related to the conforming limit? Or was it something else entirely?

[murf2222]

I’m having a case of brain constipation…….

The *pre-stimulus pkg* conforming limit of $417,000 means that you don’t need mortgage insurance for a loan under that amount right?

I’m forgetting the ramifications of a dwn payment of less than 20%…..wasn’t it related to the conforming limit? Or was it something else entirely?

[Author]

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